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trade deficit
This term is primarily used in macroeconomic discourse and financial reporting to describe a negative balance of trade. It carries a neutral technical meaning in economics, though in political rhetoric, it is often framed negatively to suggest economic weakness or a lack of competitiveness in global markets.
Because it refers to a specific economic metric, it is typically paired with verbs like "narrow," "widen," "reduce," or "eliminate." It is distinct from a "budget deficit," which refers to government spending exceeding revenue, whereas a trade deficit specifically concerns the exchange of goods and services between nations.